Sona BLW Precision Forgings Q2 consolidated net profit rises 5 pc to Rs 93 crore

Auto components maker Sona BLW Precision Forgings Ltd on Friday reported a 5 per cent rise in consolidated net profit at Rs 92.55 crore in the second quarter ended September 30, 2022.

The company had posted a consolidated net profit of Rs 88.23 crore in the same period last fiscal, it said in a regulatory filing.

Consolidated revenue from operations stood at Rs 652.9 crore as against Rs 577.05 crore in the year-ago period, it added.

Total expenses were higher at Rs 538.91 crore as compared to Rs 469.69 crore previous year.

Sona BLW Precision Forgings MD & Group CEO Vivek Vikram Singh said despite the macro headwinds and high material prices, the company delivered its highest quarterly revenue, EBITDA and net profit in the second quarter of FY23.

''We continue to progress on our key strategic priorities. Our net order book remains strong at Rs 20,500 crore, of which EVs now contribute more than two-thirds,'' he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)